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Tax Administration Act 1994

Assessments

93B: Trustee income: Commissioner’s power to assess

You could also call this:

"When the Commissioner decides how much tax a trust owes"

Illustration for Tax Administration Act 1994

You need to know when the Commissioner can assess trustee income. This happens when you fail to disclose trust details under section 59, or fail to provide information asked for under section 17 about a trust. The Commissioner can also assess trustee income if you cannot get enough information to calculate it. The Commissioner can determine the trustee income amount in a fair and reasonable way. You will have to pay this amount for the income year. The Commissioner makes this decision when you have not provided enough information about your trust.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1264858.

Topics:
Money and consumer rights > Taxes
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Part 6Assessments

93BTrustee income: Commissioner’s power to assess

  1. This section applies when a person—

  2. fails to disclose details of a trust under section 59; or
    1. fails to provide information that the Commissioner has asked for under section 17 in relation to a trust; or
      1. is unable to obtain sufficient information to calculate the amount of trustee income in an income year.

        1. The Commissioner may determine in a fair and reasonable manner the amount of trustee income for the income year.

        Compare
        Notes
        • Section 93B: inserted, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).